Harbor Advisors LLC Raises Position in Hanmi Financial Co. (NASDAQ:HAFC)

Harbor Advisors LLC raised its holdings in shares of Hanmi Financial Co. (NASDAQ:HAFC) by 16.7% during the 4th quarter, HoldingsChannel reports. The fund owned 17,500 shares of the bank’s stock after acquiring an additional 2,500 shares during the quarter. Harbor Advisors LLC’s holdings in Hanmi Financial were worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of HAFC. Principal Financial Group Inc. boosted its stake in shares of Hanmi Financial by 10.3% during the 3rd quarter. Principal Financial Group Inc. now owns 164,299 shares of the bank’s stock worth $3,056,000 after acquiring an additional 15,385 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Hanmi Financial by 85.0% during the 3rd quarter. Victory Capital Management Inc. now owns 24,435 shares of the bank’s stock valued at $454,000 after buying an additional 11,230 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Hanmi Financial by 1.1% in the 3rd quarter. Intech Investment Management LLC now owns 37,706 shares of the bank’s stock worth $701,000 after buying an additional 414 shares during the period. Cerity Partners LLC boosted its holdings in Hanmi Financial by 60.1% in the 3rd quarter. Cerity Partners LLC now owns 34,910 shares of the bank’s stock worth $649,000 after buying an additional 13,109 shares during the period. Finally, FMR LLC increased its stake in Hanmi Financial by 26.1% in the 3rd quarter. FMR LLC now owns 879,979 shares of the bank’s stock worth $16,368,000 after buying an additional 182,164 shares in the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

Wall Street Analysts Forecast Growth

HAFC has been the topic of several research analyst reports. DA Davidson restated a “neutral” rating and issued a $27.50 price objective on shares of Hanmi Financial in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $29.00 price target (up from $24.00) on shares of Hanmi Financial in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.75.

Hanmi Financial Trading Up 1.6 %

HAFC stock opened at $22.46 on Friday. Hanmi Financial Co. has a 1-year low of $14.45 and a 1-year high of $27.59. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.00 and a quick ratio of 0.99. The company has a market capitalization of $678.20 million, a price-to-earnings ratio of 10.96 and a beta of 0.87. The business has a 50 day simple moving average of $23.29 and a two-hundred day simple moving average of $22.76.

Hanmi Financial (NASDAQ:HAFC) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.05. Hanmi Financial had a return on equity of 8.64% and a net margin of 14.45%. Research analysts anticipate that Hanmi Financial Co. will post 2.6 EPS for the current fiscal year.

Hanmi Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Monday, February 10th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.81%. This is a boost from Hanmi Financial’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, February 10th. Hanmi Financial’s dividend payout ratio is 52.68%.

Hanmi Financial Profile

Hanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. It offers various deposit products, including noninterest-bearing checking accounts, savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit.